Odds Increase for Another Fed Rate Hike This Year

A stronger-than-expected September jobs report seems to suggest the Federal Reserve has more work to do. Fed futures have penciled in a 24% chance of a rate hike at the November meeting, up from a 20.1% chance the day prior, according to the CME FedWatch Tool. The odds of at least one more rate hike by the December meeting jumped to more than 46%, up from 33% a day ago.